Foreclosure notice of default in CA– what is it?

If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading.

Basically, a foreclosure notice of default is a document that has to be filed by a lender to start the process of foreclosure.

The foreclosure notice of default must be sent to anyone who has an interest in the property (any other loans, lenders, or even contractors who are owed money for work done to a property will get a copy).

The foreclosure notice of default must also be published in a newspaper and physically posted in a prominent place on the property itself.

Although this can be really embarrassing to someone going through foreclosure, it’s actually a very important protection for consumers.

Back before US law required a notice of default, people were sometimes foreclosed on without any warning.

In fact, it’s happened even in the past few years – at least one bank has accidentally foreclosed on the wrong property and kicked people out of their house without due process or warning. It’s even happened around San Diego.

The notice of default is a very important step within the foreclosure process that gives people with an interest in the property to step forward and claim their rights – before it’s too late.

If you’ve received a notice of default, don’t wait. Time is definitely of the essence, and you should take action.

Here are a few key steps you should take:

1) Stay calm and don’t panic.

This may sound obvious, but it’s probably the most important. Anyone in foreclosure is dealing with a lot of stress beyond just the property. These situations don’t happen overnight, and they take a while to solve. You’ll get through it by practicing good coping techniques and taking good care of yourself and your family. Panic leads to bad decisions, so stay cool.

2) Educate yourself.

Learn everything you can about the foreclosure process in your state so that you know what’s happening and what’s coming up next.

3) Gather your resources.

There’s also many non-profit and government resources available out there. You’ll want good legal and tax advice along the way. Definitely don’t try to do it all yourself. This stuff is super complicated with lots of rules.

4) Learn your options.

We’re here to help you avoid foreclosure. We buy houses with cash. We can help you with short sales and even rent-back situations so you (potentially) may be able to keep living in your home. There are many more options than you think.

5) Communicate.

The banks involved don’t want your property. They want money, and what you say matters a lot. You can slow down or stop the foreclosure process if you take the appropriate action.

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San Diego House Solutions

None of the other seven investors did this

One thing that setJason Smith apart from the other investors was the fact that he gave me a hard copy of a simple 2 page contract, which served as both his offer and an authentic document that was used to move forward with the deal. None of the other seven investors did this. Another thing that helped me put some trust in Jason was he included his card and the card for Oakwood escrow. I shared this info with my tax preparer person, and she said Oakwood is a good escrow company. Oakwood was a deal breaker, in fact I turned down another higher offer because of it and turned down another higher offer after starting escrow because of this good reputable escrow company. Another thing I really liked was your assistant (daughter) that accompanied you on the first day.

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He’s very reliable and always had great communication

When we decided to sell our house fast, Jason was there every step of the way helping us with any questions we had. His team made the process smooth and easy. He’s very reliable and always had great communication. I highly recommend his services. All around good guy.

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Marily Edwards

San Diego House Solutions

Since I lived next door, I was able to witness the most awesome transformation.

In 2012, Jason and his team bought our neighbors distressed house. I helped him get in contact with the owner since the son took over the property and pretty much trashed the place. It was eventually boarded up and condemned bringing down the values in our neighborhood. It had lots of code violations and the fines were stacking up that had to be paid down, which Jason was able to take care of the problem and make it a win win for the sellers and the neighborhood.

Since I lived next door, I was able to witness the most awesome transformation.

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